Greece’s privatization fund (HRADF) on Friday announced that the Athens International Airport SA (AIA) has submitted a new offer for a 20-year extension of the facility’s concession, which was approved by its board of directors the same day.
AIA's updated offer reaches 1.382 billion euros, including VAT.
The net proceeds from the privatization program will amount to 1.115 billion euros.
In a press release, HRADF said its board took into account an independent evaluation, an opinion on the fairness, from a financial point of view, of the financial consideration to be paid to the Fund in connection with the transaction and the positive assessment of a board of experts.
The concession extension contract will be submitted to the Court of Auditors in the coming period for an anticipated pre-contractual audit. The transaction is subject to approvals by the competent European authorities and the Greek Parliament.